Isle of Man praised for London connection

The Lord Mayor of London has praised the Isle of Man for its contribution to businesses in London.

This statement comes as welcome news for the popular offshore jurisdiction as the Isle of Man has long hoped that its links with London will serve to highlight the valuable contribution made to UK industry.

Visiting the island, Alderman David Wootton said: “We are both small in size – but punch well above our weight in the global economy. We can be justly proud of the standards and governance we demand. And we are also well placed and well able to meet the challenges of the future and play our part in creating jobs and growth. We share the same values and the same commitment to the very highest standards of corporate governance.”

The Mayor addressed guests from the business community and expressed his happiness that the Isle of Man champions dynamic small economies. He also praised Chief Minister Allan Bell’s ideals of the Isle of Man of establishing a society based on fairness, opportunity, social function and quality of life.

Mr Bell said: “This visit is part of our growing friendship with the City and we are delighted that the Lord Mayor has come to see us so soon after taking up office in November.”

The Isle of Man has long been a popular and reputable destination for British expatriates to conduct offshore banking.